Tax credits go unclaimed every year — not because businesses do not qualify, but because identifying and documenting them requires specialist knowledge that most companies do not keep in-house. A tax credit review screens your business for available opportunities before they expire.
What Gets Reviewed
Research and Development Tax Credits: The R&D tax credit is broader than most businesses realize. Software development, process improvement, product formulation, and engineering work often qualify. Companies with fewer than $5 million in gross receipts may apply the credit against payroll taxes.
Hiring and Workforce Incentives: The Work Opportunity Tax Credit (WOTC) provides federal tax credits for hiring employees from targeted groups. Many businesses qualify without realizing it.
State and Local Incentives: State economic development incentives, enterprise zone credits, property tax abatements, and industry-specific programs vary by state and change frequently.
Cost Segregation: For businesses that own real property, cost segregation analysis accelerates depreciation deductions by reclassifying building components to shorter-life assets.
Who Benefits Most
- Companies that have never had a dedicated tax credit review
- Businesses with software development, engineering, or product development activity
- Companies that hire regularly from the general workforce
- Businesses that own real property